The province, which borders Ho Chi Minh City to the north and is home to several industrial parks, lured US$463 million worth of foreign direct investment, accounting for 46 per cent of its 2016 target and a rise of 3.4 per cent compared to the same period last year.

For the January-February period, 14 new projects were licensed with registered capital of $169 million, while 17 projects currently operating were allowed to increase capital by $299 million.

Taiwan (China) lead among countries and territories investing in the locality in the reviewed period, with four projects worth $125 million.

The new investment projects are diversified in many trading areas and meet with the locality’s investment attraction orientation, which includes five projects for suppliers for the mechanical and apparel industries.

According to the DIZA, one of the main reasons for the increasing FDI inflow is investors are taking the initiative to prepare for expected opportunities from free trade agreements, particularly the Trans-Pacific-Partnership (TPP) Agreement.

Many of the world’s largest companies from the Republic of Korea, Japan and China have invested in the province, including Fujitsu, Formosa, VPIC, Hyonsung, Changshin, and Taekwang. Thailand’s Amata also owns a large-sized industrial estate in the province.